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%. they did beat estimates even though the cfo said he's seen evidence of a weak economy all around us. you were talking about climate change and this issue of whether it's responsible for some of the weather changes that we've seen. munich re had created a bit of a firestorm when it put out a report noting that north america was seeing mcs in unusual events and attributed it to climate change. it caused quite a stir at the time. back to you. >>> coming up, chris christie touring the carnage. millions still without power. mass transit trying to get back to line. we'll get a progress report. >>> this morning not a lot of movement. yesterday the sale. things orderly in the first day of trading since everything was shut down because of sandy. this morning futures down by about two points. nasdaq up by about 2 1/4 points. >>> jfk and newark airports both operational on wednesday, but saw very few flights. jpk is seeing more arrivals than departures, but net back to normal. courtney reagan is at laguardia this morning. >> reporter: good morning. so we haven't yet seen a plane take off here. the
:30 eastern time. and we'll be slicing and dicing the jobs report and the economy with our guest host, mark zandi. also at 8:00, the former chairman of the council of economic advisers austan goolsbee will join us for the report. and then we'll get reaction from the romney campaign with ron hubbard. that's at 8:40 eastern time. obviously a lot on our plates today. andrew, i'll send it over to you. >> the coast guard opening the port of new york new jersey on a restricted basis today allowing the backlog of barges containing gasoline and fuel into the area for the first time. how soon, however, will we see relief in the area impacted by sandy? that's the big question this morning. joe knows this very well, on my way in today, i had to take a taxicab for $125 because jeeves was this line to get gas, he was out of gas. >> i tried to take a car, my guy who i call -- he is not, but he nights as well be a former -- he has never failed. on on tuesday he came. and there have been snowstorms in the past where we've gone off the road, around, jack moved tractor trailers to get here's couldn't get gas
the impacts on the consumers in those areas and it will trickle down into the economy almost without a doubt. >> i guess if you have a storm sitting right over you, what is it supposed to sit here for 36 hours or something? what does that mean in terms of rainfall? >> probably five to ten inches of rain. lots and lots of wind across the trees which still have leaves on them. they come down, power is out and then we have gridlock and everything is shut down for maybe more than several days. >> you remember last year the snow that we had. >> snowtober. >> the leaves were on the trees. i've never seen more branchs down. i would think snow on leaves would cause more power outages than wind. is that -- are there going to be just as many incidents? because the guys that had to repair stuff last year, they were repairing stuff for two weeks solid. >> and the tree guys, you still couldn't get an appointment. >> and every branch fell and wind, a lot of the leaves are falling, i'm telling you, they're falling. so a strong wind will bring most of them down anyway, won't it? >> the difference here, it's
spending. overall, this could be a boost to the economy. i think it's going to be viewed as an opportunity. i think we're seeing in some of the premarket activity. >> i never know really whether to believe that or not. i see with insurance companies and i've seen the case made, the broken window case that you eventually have to fix it. net net, replacing things that may have been -- didn't need replacing and using capital to do that, i can't believe that, you know, spending $20 billion on what you didn't have to do before can be net net be good long-term. is that really true? is that the case that economists make? >> well, i think it depends on how much credit is involved. in other words, it involves really construction activity and things that require durable spending. that actually is stimulative because historically durable good spending has a credit multiplier. for every dollar you have to sort of build something, you're sort of creating a lot of activity on the whole supply chain. and we know there's going to be a lot of reconstruction, but in the case of autos, about 23% of all auto
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